Annual Report & Accounts

A requirement was introduced in England and Wales for local authorities administering a Local Government Pension Scheme (LGPS) to produce a Pension Fund Annual Report (to be published by 1 December), which includes reports on:

• the management and financial performance of the LGPS funds
• investment policy and investment performance
• the administration arrangements during the year
• a statement by the actuary on the level of funding of the scheme
• a governance compliance statement
• a net asset statement and fund account for each fund
• compliance with the pension administration strategy
• a funding strategy statement
• a statement of investment principles
• a statement of policy relating to communications with members and employers
• other appropriate material